First Chinese held Company to invest in a Quebec high-rise condo project
MONTREAL, Nov. 18, 2014 /CNW Telbec/ - Tianco Group, a Canadian company with majority Chinese shareholders, has joined Montreal based Brivia Group in the development of YUL, Downtown Montreal's largest privately developed residential project. Tianco Group is also the first Chinese held company to invest in the development of a high-rise condo project in the province of Quebec. YUL condominiums Inc. also announces the beginning of the process of preparing the site in order to begin construction work.
The YUL development will comprise two 38-story condo towers and 17 town houses, at 1400 René-Lévesque West, at the intersection of Mackay Street. The total cost of the project is estimated at $300 million.
''We have a long-term vision for Downtown Montreal. YUL demonstrates our desire to stand out from other real estate projects and position YUL as Downtown Montreal's most prestigious address. YUL, as a major real estate development, will contribute to promoting Montreal on the international stage,'' declared Kheng Ly, President and CEO of Brivia Group, who also expressed how happy he was to be entering into a partnership with Tianco Group.
"We are very excited to contribute to the revitalization of this part of Downtown Montreal. The arrival of YUL is a much-needed breath of fresh air for this downtown area that has been neglected for far too long," added Steve Di Fruscia, CEO of Tianco Group.
The two condominium towers will offer a total of more than 800 residential homes, comprised of 3 ½, 4 ½, 5 ½ condos, penthouses and townhouses. More than 40 unit models are available, which can suit any buyer's needs, with some homes that can be entirely custom designed.
YUL will offer high-end exclusive services to its residents, including a spacious garden of 23,000 square feet, an urban gym, an indoor pool, and an outdoor pool. On the 38th floor, a Sky Lounge will allow residents to enjoy panoramic views of Downtown Montreal, the Saint Lawrence River and Mount Royal.
The renowned architectural firm, Menkès Shooner Dagenais LeTourneux, has developed the unique structural concept, which will allow YUL to stand out from other projects.
The construction of the first tower will be completed in spring 2017; more than 40% of its units have already been pre-sold. The YUL development is the most important privately developed residential real estate project Downtown Montreal has seen for many years.
About YUL Condominiums Inc.
YUL Condominiums Inc. is a consortium formed by two majority shareholders: real estate developers Brivia Group and Tianco Group. Brivia Group is led by Mr. Kheng Ly; it has developed several real estate projects in the Montreal region, including Innova Condos, C3 Cavendish, and Le Condoval. Tianco Group is led by Steve Di Fruscia. It is a Canadian company with Chinese shareholders, with projects already underway in Vancouver, and now Montreal.
The YUL consortium's mission is to develop projects that encourage economic development and growth to strengthen communities in Quebec and throughout Canada. The consortium has the expertise, the experience, and the skilled professional network to transform innovative ideas into ambitious projects that build partnerships, satisfy investors, strengthen communities, and fulfill clients' expectations. The YUL project is the most important project to date from the consortium formed by Brivia Group and Tianco Group.
Image with caption: "From left to right: Jack Arduini (CEO, TG Beco), Philip Cortese (Executive Vice President, Financing, Brivia Group), Anik Shooner (Principal Architect, Menkès Shooner Dagenais Letourneux), Chee Sing Yip (Shareholder), Kheng Ly ( President & CEO, Brivia Group), Qing Han (Chairman of Gansu Tianqing Real Estate), Mr. Lee (Vice Councilor of the Republic of China in Montreal), Steve Di Fruscia (CEO of Tianco), Jinye Qu (Shareholder in Tianco). (CNW Group/YUL Condominiums inc.)". Image available at: http://photos.newswire.ca/images/download/20141118_C7050_PHOTO_EN_8228.jpg
Image with caption: "From left to right: Philip Cortese (Executive Vice-President, Financing, Brivia Group), Kheng Ly (President and CEO, Brivia Group), Qing Han (Chairman, Gansu Tianqing Real Estate), Steve Di Fruscia (CEO, Tianco Group). (CNW Group/YUL Condominiums inc.)". Image available at: http://photos.newswire.ca/images/download/20141118_C7050_PHOTO_EN_8230.jpg
SOURCE: YUL Condominiums inc.
For further information: Geneviève Benoit, 514 845-7071, [email protected]